June 2016 (84089.74€)

I am currently worth €84089.73 (this is 12.55% of my first goal of €670K).

Selection_230

This was an average-to-good month. I finally synchronized with the sellers of RP#2, so that we could finally transfer the property into my name. A couple days before this, I got a tenant, and my persistence (I spoke with at least 10 prospective tenants) paid off! I rented the top-most apartment for 210€/month and so RP#2 is now generating 525€/month (in total I collect 800€/month, and my mortgage is about 220€/month – remember that in Portugal I pay 28% fixed on rental income). The only bad thing about this is that these new tenants will only stay for 3 months, which means that I will have to look for new tenants after the summer. The money I am making on this 3-month lease will be used to pre-pay the mortgage and pare down the installments a bit.

I started to revitalize my stock portfolio. I know it is NOT a good time to buy stocks, but I kinda wanted to start opening some small positions in a few companies, and I ended up investing more because of the Brexit. I am using a very low commission brokerage, so don’t worry about small positions. I am looking at large cap stocks in France, Germany and the US. I may throw a couple ks more into the stock market till the end of the year, but I haven’t made my mind up yet.

I am setting up the emergency fund with 1k more till the end of the year, which I will eventually move to government bonds, as they became my emergency fund. I am looking for a few events of liquidity since I am waiting for my IRS reimbursement, and I will sell my car plus cash in a 7k bonus my employer will give me (believe me, it is well deserved!). I will be traveling on work between beginning of October and the end of the year, so I will probably save some money.

I am also about to close the deal on RP#3. I feel that this is a great deal, even better than the previous two I’ve made. A lot of work will be needed to renovate it, but I am so excited about this deal… 🙂

For July I expect another low-profile month. My net worth will grow a lot from August on. I am excited!

This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *